mybetkay

USDTRY Long Analysis

Long
mybetkay Updated   
FX_IDC:USDTRY   U.S. Dollar / Turkish Lira
4
I spotted that flag on the 4H time frame. And since we've had that strong uptrend (check the daily time frame for confirmation) and now price is currently consolidating, I am waiting for a break of that trendline to the upside to go long on this pair.
Breaking the trendline will see price go up to test the current resistance level in the red rectangle.

Possible long-term target can be placed around 3.83900. Short-term targets at and 3.70780 and 3.76315
Comment:
Slow progress is still progress
Trade active
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